A prominent Newcastle waterfront building has been sold to new owners in a multimillion-pound deal.
The St Ann’s Quay building combines offices let to key businesses including the Crown Prosecution Service and Knight Frank, as well as residential apartments and a car park, having been one of the biggest developments to be constructed on the Quayside.
Completed in 2004, the building is over 11 floors. The 92 residential apartments are arranged over the third to 10th floors.
Sheffield property consultants Commercial Property Partners (CPP) and Newcastle’s Knight Frank office have sealed the deal for an undisclosed amount for the building.
As part of the deal the purchaser has also acquired St Ann’s Car Park, with 238 spaces based at rear of the building on St Ann’s Street.
Robin Bullas, director at CPP, said: “We’re delighted to have secured the sale of St Ann’s Quay & St Ann’s Car Park Quayside, Newcastle.
“The property occupies a very prominent position with broad views of Newcastle’s iconic bridgescape, the Baltic Centre for Contemporary Art and the Sage Music Venue. Surrounding leisure occupiers include The Malmaison Hotel, Pitcher & Piano, Gusto, Starbucks and Las Iguanas.
“The Quayside itself offers an impressive, landscaped working environment, and a good range of leisure facilities that are attractive to both commercial and residential tenants.
“This deal is reflective of ongoing confidence within the commercial market across the North East, and is further news for the local and regional economy.”
The identity of the new owner has not been disclosed.
Other office occupiers based on the Quayside include Norton Rose Fulbright, KPMG, Regus, Northumberland Estates and North P&I.
Knight Frank acted for the purchaser.
